 Hey everyone welcome to this week's video update today at the time of this recording is Saturday morning July 25th Hope everybody had a great week of trading The market started out pretty strong, right? This is Monday here So we had three green days pushing higher and then Thursday and Friday Just kind of collapsed took away all of the gains that it had gained the first three days of the week And so what do we think's going on going forward? Well, I still I've been talking about the last few weeks I think the market in the short term is going to continue higher either kind of chop sideways to higher now Obviously anything can happen. This thing could continue to collapse and I do think more downside eventually is inevitable But I think in the short term we're still gonna be pushing higher now Does that mean we're gonna flip directions to get long? No, we're still carrying a little bit of short Delta We did get rid of one bunker this week as I'll show in the alerts but we will We're not gonna get too aggressive about adding shorts yet now if we get another push another extension higher We will definitely be potentially adding some more shorts But for now, we're just gonna kind of manage as is continue to put on new positions Take them off carry a little bit of short Delta right now We're we're right at about one-to-one or a little under one-to-one on our short Delta versus our Theta ratio And so that is the plan Going forward. Let's jump into the alerts Let's go to trade alerts here And then we will also do a recap of the day trades that we took this this week So starting with Monday the 20th our first trade was Yeah, the rut so we closed out our iron duck and rut we got that price run higher Price ran up the beak of the duck didn't have much of a chance to get back into the duck head And so we went ahead and closed that out booked a profit on that one Next trade opening adjusting trade in GC in gold We did this one a little bit further out than we typically do 66 days to expiration But still in that wheelhouse of kind of 30 to 60 days And so we added this on and then the very next alert was closing out the one that we had with 37 days to expiration And we're over 40% of max profit on that piece of the trade So we went ahead and close that out and then opened up in the next cycle. So if we take a look at GC Show you where we're at here now implied volatility has really spiked Yeah, so even though we're still well within range We're down on the trade because of that implied volatility spike if you if you saw what was going on in Silver and gold this week. Let me just look at the futures here I did have a pair pairs trade on In one of my personal accounts is partially while I was watching but I mean gold just rallied hard and Silver rallied even harder. I mean, we had a huge spike in in silver and then now it's kind of leveling off but Precious metals having a rally. So that's where we're at in gold Next trade opening trade in SPX. So we added another weekly double calendar in SPX did this one with the front week four days to expiration the back week of seven and So now we had two of those on which expired on Friday So I'll get the closing trades on those here in just a minute. Then we had a closing trade in IWM So here's that bunker. I mentioned that we closed out. This one had We were under 60 days expiration. I think we were 58 when we closed this out So that you know, the price was starting to sag into that Potential value of death. So we didn't want to let that happen. So we took a small loser Got out of that one and we've still got some other bunkers on which I'll I'll get to you here in just a minute SMH did a rolling adjusting trade Got down to we were 31 days to expiration. So we rolled out to 59 But the reason is we you know price ran higher. There's very little value left in the put put So we needed to roll those puts up. We could have stayed in the August cycle But just decided to extend duration get out to September and so that's what we did there So if we take a look at SMH And that's kind of a that's kind of subjective call right when you're 31 days That's kind of a you could roll in the same cycle. You could roll out to the next one It's kind of a subjective decision. So we went ahead and just rolled out to give us more time Now we're already up over $600 since we did that roll And so if we do you get a little bit of a continuation downside That's gonna give you a big benefit on this position here still working our way back to profits on SMH Closing trade and SPY. So we had an iron duck in SPY again price ran higher and into the Beak and so we went ahead and booked that profit early and and close that one out Next trade rut we did another opening trade in rut and added a new iron duck in RUT And we did this one with 16 days to expiration. So if we take a look at that piece Pretty close to where we put it on. We're up a tiny bit. Just waiting for some more time to pass Again, this expires on 8-8 So obviously Ideally if it comes down a little bit into our duck head book max profit if it runs higher No risk to the upside and we could be a book a big profit Opening trade in SPY. So the next day we put on another duck as price was continuing to come down later in the week Did this one with 20 days to expiration. So just kind of spreading out our our symbols spreading out our Explorations and just continuing to add these positions in here So if let's take a look at SPY We've got a couple different positions on here in SPY We've got this iron duck Where you can see it's it's up into the beak and then the one that we just put on from that alert is this one here and You can see prices come down since we put it on because we had that big down day on Friday So prices just entering the duck head and so obviously we've got some time left on this one But that's where we want it to stay in that area and while we're here. We'll take a look We also have an iron condor on in SPY prices hanging out right here in the upper end of the range I just waiting for a little bit more downside or some more time to pass before we do anything with that one That one's out in August. So we've got a 27 days to expiration. So we got a lot of time there Next trade closing trade in SPX. So one of our weekly double calendar We ended up holding both of these until Friday and and just to give you a little perspective because you know What we've been typically doing is is closing one out on Thursday closing one out on Friday Well, what happened is when we get this big down move like we saw we get SPX When you when you when we got this big down move on Thursday implied volatility popped and that helped our position and Price got us back to center. And so we thought you know what? Let's just hold this see if we get a little bit more downside Continuation into Friday a little bit more implied volatility expansion now if you look implied volatility didn't really expand that much even though price was down and that and when I say it didn't expand really the difference between the front and the Backweek the differential didn't move that much, but price stayed, you know down to to pretty steady All right, it wasn't a very volatile day And so it worked out well because we were able to book profits on both of our weekly double calendars Now go back to the chart one more time. So The when we put this on we put we put one of these on last Friday We put one on earlier, you know Monday and so we did get that Volatility got crushed in the first part of the week. And so that was hurting our double calendar But then this popped it and and got us back into the profit So we ended up booking a a nice a little profit on that one like a little over a hundred dollars on That one and then I'll go ahead and jump to this one And then we closed this one out later later that morning on Friday and and booked a profit of 165 Actually, let's just go to the closed trades here booked 165 on that one and 105 on that one so you say well, that's you know, that's cool Not not very much, but if you think about this I mean the amount of capital that we're using on these trade is about $800 on each of these So that's about a 15% that's about a 20% return on capital. That's about a 12% return on capital So and we're only holding these four, you know, depending on when we got in one of them We got in we were only in it for four days when we were in for about six So still a good return on capital Anyway, you look at it. Obviously, we love those that that really get pumped up from the implied volatility We can we can book bigger profits, but but still very very valid now. I mentioned this A couple weeks ago and I'll and I'll mention it again, you know We have we have made kind of an adjustment to the way that we're entering these weekly double calendars where we're doing it with The front week with like anywhere from six to eight days in the back week like three or four days later We might need to start extending that Duration between the front and the back weeks as implied volatility has continued to Contract now if we get a price move that continues lower implied volatility spikes back up We'll continue to do these short duration between the front and back week of these weekly double calendars But but we made me to make an adjustment and and I've been looking at it every time we put them on And so we'll make that adjustment as necessary Remember the cores when we when we first started doing these excuse me when we first started doing these We're doing about seven days in the front week and about 21 in the back week And that was because the implied volatility levels were very low So we were needing to to do that to get the the credit to make it necessary not the credit But to make to get the premium next it necessary to make these work And and so we're just we're just altering that to make it work in the current environment even better But well, we will we are keeping an eye on that and we'll make adjustments as needed to to adjust to accommodate for the different implied volatility levels and And then the last trade here was this one in XL K. We had a long put vertical with the price moving lower We were over 50% of max profit on this piece. So we went ahead and just rolled that out to the next cycle we were at 21 days rolled out to 56 and kind of book that credit and continue to extend duration Adjusted our strikes down as price move lower. So if we take a look at XL K Price moved. Yeah, so price is real close to where we rolled it. So no P&L since we did that roll But just holding this for that downside Short bias in our portfolio some of that short delta. So those are all the alerts. Let's take a look some of these other positions We've got ES. We've got a couple different long put verticals. This one is expires 822 It's a little bit out of range needs some downside action to get back into range on that one And then this one is inside range a little bit. We're up a little bit. Just looking for some more downside on that Natty gas So Natty gas has made a nice move higher this week and coming right back to center So we're up over $771 since we did this roll and you know, we'll wait till we get to you know Maybe 25 or so percent of of our of our credit So once we're up a thousand bucks or so on this will consider rolling out. We've got plenty of time here We've got 32 days to expiration. So either when we get down closer to 21 days or we're at, you know 25 or so percent of max profit We will roll that out to the next cycle and continue to to manage that and get back to profit work on our way back Nicely in Natty gas as it's been just kind of these are some pretty big swings But still just kind of chopping around in a in a decent range. So if we can get that for another cycle or two We'll be in good shape in Natty gas Bonds bonds, you know, they pushed higher this week, but then started to retrace a little bit on Friday We are a little bit outside of our range in our adjusted short strangle here If we look at just the untested side the puts you can see we still got a little bit of premium left in those So we're not too anxious to roll those puts up yet But if price continues higher we will in fact roll those puts up and continue to to manage that one We've got 27 days expiration So we'll definitely roll this out by Friday of next week or maybe Monday the following week We'll see where we're at But if we can get it a little bit of downside action before then in bonds will be in good shape Apple Got this long put vertical price just inside the range here. Just holding that for that short Delta Same with John Deere. This one's a little bit outside the range DIA got a couple of short call verticals here both of them in August. This one's right outside the range and This one is just inside the range IWM got a couple different positions here Couple of long put verticals that one just outside the range This one just outside the range as well And then we've got a bunker left that's out in October and you can see prices already starting to kind of sag a little bit So we're you know, we may or we don't need to wait all the way down to 60 days to expiration before you take these off We may actually take this off next week and and add a new one in so we'll with a different duration So we'll see where this is early next week and potentially make a move on that QQQ We've got two sets of short call verticals We're up about 380 on this one if this price continues a little bit lower We will go ahead and book that and roll that one out and then with this one same thing if this continues Down in this range here. We'll go ahead and book that roll it out to the next cycle This one's actually already in September. So this one we actually just move our strikes closer But the one in August we would roll out to September And then we've got a bunker in the queues as well prices hanging out right here So need some downside action to get in profits there. I mentioned rut I mentioned SMA to mention SPY XBI Nice, you know, it's down over almost two and a half percent on Friday. So coming back into range We're up about 450 on that one since we've done the roll So just kind of working our way back in XBI and then I just mentioned XLK So those are all the alerts. Those are all the positions. Let's talk about the day trading If you're not already part of the Facebook group, this is where we kind of update things on a daily basis. So just go to Facebook comm slash groups slash navigation trading or you should just go to Facebook and and In in search for day trading options for income or navigation trading You'll find it you can join here and follow along with what we're doing on a daily basis with our day trades Don't forget August 6th at 4 p.m. Central is the actual class where we're going to be going over all the details of of The of the date of the day trading strategy So looking forward to that will be will be posting more about that more about the details We'll send you an email to register But just kind of save the date note that 4 p.m. August 6th. So how did we do this week? Let's take a look We had a positive week. We're up over a little over 1,300 bucks on the week And so what happened Monday was made 1390. It was a good start to the week Booked a nice profit on Amazon Did a pairs trade here Individual trade on the micro ES and then couple a couple small loser in BA and then a 275 loser in Tesla But overall 1390 so good day trading on Monday Tuesday was even better Only one little loser in Boeing and the rest were were nice winners So booked some nice profits there and the next day not so much lost 2700 Just over-traded let this in video loss get out of hand didn't stick to my rule of you know Once if I have three trades that lose I'm done for the day I did not follow that rule and so that's that's what can happen my friends and I think One of the one of the main reasons to have that rule in place is because either one of two things is going on either Mentally you are not in sync. You're not you're not into the markets. You're not You're you're just not trading well From a discipline or a mental standpoint so that three losses can really just get you out and just say I'm done for the day Come back tomorrow fight another day The other thing is you know, maybe it's just a sometimes the markets just aren't acting like you want them to for this Type of a strategy, right? I mean this doesn't work 100% of the time and if it's just not Working and and you just keep going and trying to get back and get back and get back. This is kind of what can happen So took a loss there gave back basically everything a little bit more that I made the day before and Then the next two days Thursday and Friday was traveling. So no trades on Thursday at all I didn't I just didn't have any time to do anything but the core Navigation alerts and all that stuff. So I wasn't able to day trade and then Friday just same thing I was still traveling, but I did sneak in a few tiny Trades and booked a few winners. So Boeing zoom and Nvidia booked $247 profit. So on the week 1309 so another another green week. So did have our did have our I at this point I was 11 days in a row with Positive days and then it snapped on this day in a big way I gave back 2700. So Still good stuff though still continuing to just You know be self-aware about my mindset and my discipline and that kind of thing it's big. It's a big game of discipline and Continuing to do well and and and trade smaller too You know, I mean one thing on on that losing day is I did I did start to you know I was starting to get a little confident had this day this day back to back So I was like, you know, I just gonna up it a little bit. So I did trade a little bit bigger as well It's just over-traded. So it's just a game of of of mental mental discipline And I think what I'm gonna start doing next week is per trade I'm only going to be using $2,000 of buying power at the max. So anywhere up to $2,000 is what I can use and I'm just gonna I just I want to because I want to I want to start building a Discipline for how I'm going to do this when we actually roll this out to members I've been you know, a lot of these, you know, I'm showing you my results But a lot of this is is just kind of testing, you know Allocation and position size and and you know mixing in a couple different strategies and you know The first the first class that we teach is just gonna be on one strategy And so I really want to hone in on that and and focus in on the allocation and the discipline of that specific strategy As we get closer to rolling that out for you for you all so That's what's going on in the day trading world. Hope everybody has a great weekend and we'll talk to you next week